NAPL's Printing Business Index (PBI) rose to 37 in October, up nearly three points from its 34.1 reading in September. A comprehensive measure of printing industry activity, the PBI has rebounded from a drop of more than 10 points following the Sept. 11 terrorist attacks. According to NAPL's Printing Economic Research Center, the gains were due almost entirely to the growing belief among the 300 members of NAPL's Printing Business Panel that the worst economic consequences of the Sept. 11 attacks are over. Prior to September, the index had appeared to have stabilized, having moved up steadily over the previous four months from a low of 38.1 in May to 45.9 in August (the highest reading in nine months). The index reached its high point in August 2000, peaking at 56.9 before declining rapidly with the business downturn. The PBI© has not been above the critical 50 level since October 2000-a reading above 50 means more of the Printing Business Panel report business is picking up than report it is slowing down; below 50 means more report it is slowing. The PBI combines what members of NAPL's Printing Business Panel tell the Association about work-on-hand, current business conditions, expected business conditions (confidence), hiring plans, profitability, and other key indicators into a single measure of activity. NAPL Printing Business panel is a group of 300 printing companies surveyed monthly by NAPL's Printing Economic Research Center (PERC). Because the same printers are surveyed every month, results are strictly comparable over time. The PBI is one of the measures reported regularly to subscribers to NAPL corporate and financial track members, as well as subscribers to NAPL's Leading Indicators' Service. For more information on the PBI, NAPL's Leading Indicators' Service, or PERC, call (201) 634-9600, Ext. 1352 or 1318, email [email protected] , or visit www.napl.org. For information on NAPL corporate or financial track membership, call (800) 642-6275, Ext. 1317 or 1385, or visit www.napl.org.